LOBSTR

Overview of LOBSTR

Founded approximately 5-10 years ago in China, LOBSTR is an unregulated cryptocurrency trading platform that operates without regulatory oversight. The platform places a strong emphasis on security, employing industry-standard practices such as SSL encryption and multi-factor authentication to protect user data and funds. LOBSTR offers a selection of 33 cryptocurrencies for trading, including notable options like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), XRP (XRP), Litecoin (LTC), Stellar (XLM), Chainlink (LINK), and Uniswap (UNI), with prices ranging from $0.12 to $0.71 USDC. The platform charges a 0.2% taker fee and a -0.1% maker fee for trades up to 100,000 USDC, with sliding fee scales for higher trade volumes. LOBSTR facilitates deposits and withdrawals without charging fees, though asset issuers may set their own fees. Payment methods encompass Stellar Wallet, credit cards, debit cards, bank transfers, Apple Pay, Google Pay, and MoonPay.

Pros and cons

Security

LOBSTR prioritizes the security of user funds and personal information, implementing robust security measures to safeguard against potential threats. The platform utilizes industry-standard practices, including secure socket layer (SSL) encryption, to protect user data during transmission. Additionally, LOBSTR employs multi-factor authentication (MFA) to add an extra layer of security to user accounts. This helps prevent unauthorized access to accounts even if login credentials are compromised. The platform also practices regular security audits and updates to ensure that system vulnerabilities are addressed promptly. These security measures aim to create a secure trading environment for users and protect their assets from potential risks.

Cryptocurrencies Available

LOBSTR currently offers 33 cryptocurrencies, with more being added all the time. Here are some examples of the cryptocurrencies available on LOBSTR: Bitcoin (BTC) \ Ethereum (ETH) \ Tether (USDT) \ XRP (XRP) \ Litecoin (LTC) \ Stellar (XLM) \ Chainlink (LINK) \ Uniswap (UNI)

The prices rage from $0.12 to $0.71 USDC.

How to open an account？

The registration process of LOBSTR can be completed in the following six steps:

1. Visit the LOBSTR website and click on the “Get Started” button to initiate the registration process.

2. Provide your email address and create a secure password for your LOBSTR account.

3. Verify your email address by clicking on the link sent to your registered email.

4. Complete the KYC (know your customer) verification process by submitting the required identification documents and personal information.



5. Once your KYC verification is approved, you can proceed to set up additional security measures such as two-factor authentication (2FA) to enhance the security of your account.

6. After setting up security measures, you can start exploring the platform and its features, including cryptocurrency trading and portfolio management.

Fees

LOBSTR charges a 0.2%, taker fee and -0.1%, maker fee for trades up to 100,000 USDC. There is also a 0.875% maintenance fee on balances below 1 XLM.

Volume (USDC)	Taker Fee (bps)	Maker Fee (bps)
Up to 100,000	0.2	-0.1
100,000 - 1,000,000	0.1	-0.05
Over 1,000,000	0.05	-0.025

Payment Methods

LOBSTR does not charge any fees when depositing or withdrawing assets through the deposit/withdrawal interface. However, asset issuers (anchors) may set their own fees for deposit and withdrawal operations with their tokens. For example, the Stellar Development Foundation (SDF) charges a 0.1% fee for depositing or withdrawing XLM. Other asset issuers may charge different fees, or they may not charge any fees at all.

Payment Method	Buy	Sell	Add Cash	Cash Out	Speed
Stellar Wallet	Yes	Yes	Yes	Yes	Instant
Credit card	Yes	Yes	Yes	Yes	Instant
Debit card	Yes	Yes	Yes	Yes	Instant
Bank transfer	Yes	Yes	Yes	Yes	1-3 business days
Apple Pay	Yes	Yes	Yes	Yes	Instant
Google Pay	Yes	Yes	Yes	Yes	Instant
MoonPay	Yes	Yes	Yes	Yes	Instant



Compare to Other similar Brokers

In comparison to other brokers, LOBSTR offers trading in 33 cryptocurrencies with fee structures of 0.2% taker fee and -0.1% maker fee. While its crypto selection is smaller than Coinbase and Binance, which offer 100+ and 500+ cryptocurrencies respectively, LOBSTR's fee structure is more competitive than Coinbase's 0.5% taker fee and 0.4% maker fee, and Binance's 0.1% taker fee and 0.05% maker fee. LOBSTR has no account minimum, in contrast to Kraken's $10 requirement, and it lacks the sign-up bonuses and staking rewards offered by Coinbase, Binance, and Kraken.

Feature	LOBSTR	Coinbase	Binance	Kraken
Cryptocurrencies	33	100+	500+	60+
Amounts	Up to 100,000 USDC	Up to 50,000 USD	Up to 100,000 USD	Up to 50,000 USD
Fees	0.2% taker fee, -0.1% maker fee	0.5% taker fee, 0.4% maker fee	0.1% taker fee, 0.05% maker fee	0.1% taker fee, 0.04% maker fee
Account minimum	None	$50	None	$10
Promotions	None	Sign-up bonus, staking rewards	Sign-up bonus, airdrops	Sign-up bonus, staking rewards